Sunrise Realty Trust, Inc. $SUNS Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP reduced its position in shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) by 38.5% in the 1st quarter, HoldingsChannel reports. The firm owned 365,219 shares of the company’s stock after selling 228,609 shares during the period. Wasatch Advisors LP’s holdings in Sunrise Realty Trust were worth $2,801,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Osaic Holdings Inc. boosted its holdings in Sunrise Realty Trust by 7.1% in the 4th quarter. Osaic Holdings Inc. now owns 16,947 shares of the company’s stock valued at $160,000 after purchasing an additional 1,127 shares in the last quarter. Corsair Capital Management L.P. raised its stake in shares of Sunrise Realty Trust by 407.0% during the 4th quarter. Corsair Capital Management L.P. now owns 50,704 shares of the company’s stock worth $478,000 after buying an additional 40,704 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Sunrise Realty Trust by 12.5% in the 4th quarter. Royal Bank of Canada now owns 13,782 shares of the company’s stock valued at $130,000 after buying an additional 1,535 shares during the period. Mariner LLC lifted its holdings in shares of Sunrise Realty Trust by 42.3% in the 4th quarter. Mariner LLC now owns 34,359 shares of the company’s stock valued at $324,000 after buying an additional 10,220 shares during the period. Finally, Barclays PLC grew its holdings in Sunrise Realty Trust by 7.3% during the fourth quarter. Barclays PLC now owns 22,183 shares of the company’s stock worth $209,000 after acquiring an additional 1,518 shares during the period.

Analysts Set New Price Targets

Several research firms have issued reports on SUNS. Zacks Research upgraded Sunrise Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Wall Street Zen raised shares of Sunrise Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings raised shares of Sunrise Realty Trust from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods increased their price target on shares of Sunrise Realty Trust from $7.75 to $8.00 and gave the company a “market perform” rating in a report on Monday, May 18th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $8.00.

Sunrise Realty Trust Stock Performance

Sunrise Realty Trust stock opened at $8.42 on Friday. Sunrise Realty Trust, Inc. has a fifty-two week low of $7.34 and a fifty-two week high of $11.78. The firm has a market capitalization of $113.84 million, a price-to-earnings ratio of 8.51, a price-to-earnings-growth ratio of 0.63 and a beta of 0.98. The stock’s fifty day moving average is $8.12 and its two-hundred day moving average is $8.77.

Sunrise Realty Trust (NASDAQ:SUNS) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. Sunrise Realty Trust had a return on equity of 8.33% and a net margin of 54.82%.The business had revenue of $10.27 million during the quarter, compared to the consensus estimate of $6.18 million. As a group, sell-side analysts forecast that Sunrise Realty Trust, Inc. will post 1.22 EPS for the current fiscal year.

Sunrise Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.20 dividend on an annualized basis and a yield of 14.3%. Sunrise Realty Trust’s payout ratio is presently 121.21%.

Sunrise Realty Trust Profile

Sunrise Realty Trust is a real estate investment trust (REIT) that focuses on acquiring, owning and leasing convenience store and fuel retail properties under long-term net leases. The company targets sale-leaseback transactions and joint-venture investments with high-credit tenants in the convenience retail sector. Sunrise Realty Trust’s portfolio comprises single-tenant properties that benefit from predictable cash flows, structured lease agreements and tenant-driven site improvements, providing exposure to a segment of the retail real estate market that aligns closely with consumer essentials.

The company’s primary business activities include sourcing and underwriting new property investments, negotiating sale-leaseback and ground lease transactions, and managing asset performance throughout the lease term.